A company, managed by INVL Renewable Energy Fund I, has raised EUR 3.5 million for the construction of solar plants in Poland
28 Giugno 2023 - 8:45AM
A company, managed by INVL Renewable Energy Fund I, has raised EUR
3.5 million for the construction of solar plants in Poland
REFI Energy, a company of INVL Renewable Energy
Fund I managed by INVL Asset Management, a fund investing in
renewable energy projects, has raised EUR 3.5 million for the
construction of solar power plants in Poland.
REFI Energy has raised funds for renewable
energy development projects in the neighbouring country through a
private placement of 2-year 9.5% fixed-rate bonds to institutional
and private investors.
“We will use investor funds to finance the
construction of the solar parks we have started in Poland.
Investors’ trust in our fund and renewable energy investments will
allow us to implement the planned projects,” says Liudas
Liutkevičius, Managing Partner of INVL Renewable Energy Fund I.
INVL Renewable Energy Fund I is developing the
solar projects totalling more than 33 megawatts (MW) in Poland. The
money entrusted to the Fund by investors will be used to further
develop the 14-MW solar plants that have reached the ready-to-build
stage. The Fund expects these plants to be built over this year and
the year 2024.
“The bond issue of the company managed by INVL
Renewable Energy Fund I focuses on renewable energy. Growing
interest in sustainable investments, the confidence expressed by
market participants in the bond issuer and attractive returns are
the main reasons for its success.
Rising interest rates and volatility in some
sectors will continue to encourage investors to look for
alternative investment opportunities, greater diversification and
sustainable and long-term solutions. It is good to see that more
and more projects are emerging in Lithuania that contribute to the
opportunity for investors to spread their investments across
different sectors. This is especially important in our market,
where a large part of investments, in one format or another, is
directed to the real estate market”, says Tomas Varenbergas,
Director of the Markets and Treasury Department of Šiaulių
Bankas.
Šiaulių Bankas was the coordinator and leading
manager of this bond issue, while the law firm TGS Baltic acted as
legal advisors.
INVL Renewable Energy Fund I is currently
focusing on the Polish and Romanian markets, where the Fund
managers see big growth potential. In these markets, due to
specifics of the electricity generation balance, new electricity
generation capacities are needed, and their governments are
supporting the expansion of renewable energy. The Fund’s portfolio
of projects in development has a total capacity of over 470 MW and
has already raised EUR 61.4 million from investors.
Renewable energy is an attractive asset class
from an environmental, economic and energy independence
perspective. Investing in the Fund gives investors a chance to
diversify their assets geographically, earn an attractive return on
investment, and contribute to climate change mitigation.
Important notice
This is a marketing communication of informative
nature, which is not and may not be construed as an offer to buy
units, bonds or other securities of a collective investment
undertaking, an investment recommendation or an investment
research, as it is not designed to take into account the investment
objectives, financial situation or needs of any individual
investor.
When investing, investors assume the risk
associated with the investment. The value of investments can both
rise and fall, and an investor may recover less than he/she/it has
invested. Past investment results do not guarantee the same results
or profitability in the future. Past performance is not a reliable
indicator of future performance. Before making a decision to
invest, a potential investors should, on their own or with the help
of investment advisers, assess the suitability of the investment
for them along with the taxes and fees related to the investment,
consider all the risks related to the investment, and carefully
read the rules, prospectus and other documents of the respective
collective investment undertaking.
Units of INVL Renewable Energy Fund I, the
collective investment undertaking, mentioned in this press release
may only be distributed to informed investors as defined in the Law
on Collective Investment Undertakings for Informed Investors of the
Republic of Lithuania, as amended and supplemented from time to
time, and may not be distributed and transferred to any other
clients.
About the INVL Renewable Energy Fund
I
The INVL Renewable Energy Fund I was established
on 20 July 2021 by INVL Asset Management as a sub-fund for informed
investors. It invests in early- and mid-stage renewable energy
projects (solar and wind), including the construction of new power
plants, the development and/or acquisition of the infrastructure
necessary for the operation of power plants, and effective
management of existing power plants in the European Union and
member states of the European Economic Area.
INVL Asset Management is part of INVL, the
leading Baltic investment management and life insurance group.
The person authorised to provide additional
information:Liudas Liutkevičius, Managing Partner of the INVL
Renewable Energy Fund Iliudas.liutkevicius@invl.com
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